WOLF - Jim Cramer Says This Real Estate Stock Is 'Done Going Down That's A Gutsy Call By Me' | Benzinga
On CNBC’s "Mad Money Lightning Round," Jim Cramer says Wolfspeed, Inc. (NYSE: WOLF) is "losing too much money" and referred to the semiconductor manufacturer as a "second-rate player."
The Durham, N.C.-based company reported second-quarter losses of 55 cents per share. It beat the analyst consensus estimate of losses of 66 cents, but marked a 400% decrease over losses of 11 cents per share from last year.
Wolfspeed reported revenue of $208.4 million, beating analyst expectations of $206.36 million, marking a 3.56% decrease over sales of $216.1 million from last year.
Cramer also blamed PureCycle Technologies, Inc. (NASDAQ: PCT) for not making money.
PureCycle recently issued an update for its Ironton production ...